Texas House Bill HB2799

Texas 2019 - 86th Regular

Caption

Relating to economic development.

Impact

The amendments to Section 552.131 of the Government Code clarify the type of information that is considered public and what can be withheld regarding financial incentives offered to businesses. This change may increase transparency by ensuring the public is informed about incentives that directly or indirectly affect public funds. For municipalities, the new application process for tax abatements is designed to foster a more favorable environment for business growth, potentially stimulating local economies and attracting new investments.

Summary

House Bill 2799 focuses on economic development within the state of Texas, proposing amendments to existing laws pertaining to tax abatements and the handling of public information. The bill introduces a new provision allowing owners of taxable real property in municipalities to apply for tax abatements even before their property is located in a designated reinvestment zone. This change is aimed at streamlining the process for property owners seeking financial incentives to encourage development and investment in their areas.

Contention

One notable point of contention around HB 2799 is the balance between economic development and local governance. While supporters argue that the bill simplifies the process for tax abatements and encourages economic growth, opponents may raise concerns about the implications of granting municipalities less control over the timing and approval of tax abatements. Critics may question whether the expedited process serves the community's interests or simply benefits larger businesses without regard for local needs or priorities.